House Sponsors: COULSON. Short description: INC TAX CREDIT-LONG-TERM CARE Synopsis of Bill as introduced: Amends the Illinois Income Tax Act. Provides that for taxable years ending on or after December 31, 2002, each taxpayer who is an employer is entitled to a tax credit in an amount equal to 5% of the costs incurred by the taxpayer during the taxable year to provide long-term care insurance as a part of an employee benefit package. The credit, however, may not exceed the lesser of (i) $5,000 or (ii) $100 for each employee covered by long-term care insurance provided under the employee benefit package. Provides that the credit may be carried forward for 5 taxable years. Exempts the credit from the sunset provisions. Effective January 1, 2003. Last action on Bill: SESSION SINE DIE Last action date: JAN-07-2003 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status